Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) Plans Monthly Dividend of $0.08

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Wednesday, April 1st. Shareholders of record on Monday, June 15th will be paid a dividend of 0.0847 per share on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 7.0%. The ex-dividend date is Monday, June 15th.

Rivernorth Managed Duration Municipal Income Fund Price Performance

Rivernorth Managed Duration Municipal Income Fund stock remained flat at $14.60 during mid-day trading on Friday. 66,830 shares of the company’s stock traded hands, compared to its average volume of 54,052. Rivernorth Managed Duration Municipal Income Fund has a twelve month low of $13.28 and a twelve month high of $14.88. The business’s 50 day moving average price is $14.31 and its two-hundred day moving average price is $14.12.

About Rivernorth Managed Duration Municipal Income Fund

Rivernorth Managed Duration Municipal Income Fund Inc is a closed ended fixed income mutual fund launched and managed by RiverNorth Capital Management, LLC. The fund is co-managed by MacKay Shields LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal debt securities. It seeks to invest in securities of any maturity. The fund employs a combination of fundamental and quantitative analysis. It benchmarks the performance of its portfolio against the Bloomberg Barclays Municipal Bond Index.